Is Blockchain Technology The True Saviour Of Digital Marketing?

A bunch of our marketing expert’s thoughts

New Wave Digital
Nov 3 · 4 min read

The Blockchain is an ever-growing list of records (or blocks) that are being entered chronologically and openly. It is based on an equally distributed ledger where data can be stored universally on millions of servers — and anyone on the network can see everyone else’s entries in real-time — it is basically impossible for one entity to gain control of our game the network.

But the goal of this article is far from explaining to you what is Blockchain. We’d like to talk more about the ways how it can benefit the current advertising.

In the course of the traditional advertising epoch, ad space buying and selling used to be a dull, time-consuming process with a full lack of transparency. Sometimes, the negotiations between the advertisers and publishers took hours in settling. Then came programmatic buying changed the industry drastically. It brought automation coupled with real-time bidding through which advertisers got access to a lot of ad space at the best possible price.

Straight to the topic — it seems like the disruptive technology is about to change this process and create a brand new advertising manufacturing.

Moreover, Blockchain will empower the advertising industry to reduce waste, target the right audience, cut the advertising load and deliver fewer, more timely and more appropriate ads.

We’d like to draw your attention to 3 disadvantages of the programmatic buying which Blockchain can fight.

The Middleman

The presence of a middleman that is usually an ad exchange which is helping in the process of bidding, is usually not cost-effective for both the advertisers and publishers. In the end, they are the ones who must give a certain share of the transaction to the middleman.

Moreover, nowadays, when a campaign finishes off, a platform X may claim to have delivered 50 000 impressions while the publisher X says that it was 52 000 and the advertiser reports it was only 49 000 impressions. When that happens, the parties are quite stuck negotiating which of the metrics will be the basis of billing among the partners.

Blockchain can definitely help in situations like this one, as it could be used to adjust an agreed-upon number of impressions and finally process the billing. For this to work, a public ledger would have to be supplied with every system’s impression data. In this sense, the ledger becomes an accurate record that represents each of their perspectives about which no one can disagree.

A Farm For Bot-Generated Metrics

The likes, clicks, and views are the most common metrics to measure the efficiency of an online advertising campaign. However, there are shady minds that are offering bot-generated clicks, likes, and views that replicate human behavior.

As a result, it is now almost impossible for the advertisers to make a strict analysis of the campaigns’ performance and we end up losing lots of money.

And Blockchain to the rescue! An ad exchange underlying on a decentralized, verifiable ledger of advertising transactions could save the industry millions of dollars.

Not Targeting The Right People

The programmatic buying does not guarantee ads being shown to the right people. No matter how good is the campaign, it won’t be successful if it’s not being targeted to the desired audience.

When the users share their data with Blockchain, it immediately gets distributed on the shared ledger and the advertisers access to this large pool of data related to user’s browsing interests and behavior which helps them to re-target the right audience.

As the interest in Blockchain increases worldwide, we expect to see appealing and one-of-a-kind opportunities within the advertising sphere.


At New Wave Digital, we provide beyond expert blockchain consulting and development, by delivering proof-of-concept and bringing clarity and mutual understanding of the disruptive technology.


ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

New Wave Digital

Written by

Big-picture digital innovation agency with a global edge. Website: http://newavedigital.com

ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

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